Exchange-traded fund (ETF) issuer Tuttle Capital has introduced a new ETF aimed at tracking and investing in stocks owned by members of the U.S. Congress or their spouses.
The Tuttle Capital Congressional ETF is being offered as an actively managed ETF of Members of Congress’s choice, as outlined in mandatory public disclosure filings, according to a June 11 regulatory filing.
The requests were made as part of the Stop Trading on Congressional Knowledge (STOCK) Act – which was enacted in 2012 to prevent US lawmakers from using privileged information from their positions for personal gain.
Tuttle Capital said the fund will select members of Congress to follow based on the historical performance of their investment returns, the committees they serve on and their seniority. A management fee of 0.75% has also been introduced.
This follows similar ETFs following Congressional Storage from Subversive Capital Advisors, which launched the Non-Normal Whale ETF (NANC) and the Republican Whale ETF (KRUZ) in February 2023 – which are up 17% and 8 % so far this year. respectively. That compares to the S&P 500’s return of 12.7% over the same period, according to Yahoo Finance and MarketWatch.
Tuttle Capital is no stranger to unique ETF propositions.
In 2022, I applied for two ETFs centered around investment advice from CNBC Mad Money host Jim Cramer.
One bet against his investment advice, the Inverse Cramer ETF, and the other adopted the opposite strategy, the Long Cramer ETF.
about: Bitcoin ETFs absorbed two months of Bitcoin mining supply in the first week of June
ETFs didn’t last long. The Long Cramer ETF only traded five months before it closed, while the Inverse Cramer ETF lasted for about 11 months.
In January, Tuttle Capital also filed six proposals for leveraged and inverse Bitcoin ETFs, which could offer “amplified” returns from a spot Bitcoin ETF, although none of these ETFs are currently listed on Tuttle Capital’s website as “Current T-REX”. Strategies.”
The Roaring Kitty ETF is ‘interesting’
Matthew Tuttle, CEO and chief investment officer of Tuttle Capital, recently said that an exchange-traded fund (ETF) tracking the stock picks of popular GameStop (GME) stock trader Keith Gill, known as “Roaring Kitty,” was an “interesting idea.” .”
The idea was floated – more casually than anything else – by ETF Shop director Nate Geraci, given its large following and extensive media coverage.
review: Roaring Kitty’s GME Stock Hits $1 Billion, BTC Open Interest Rises and Other News: Hodler’s Digest, June 2-8
